Keyaira Bostic, COVID-19 Relief Fraud, Florida 2021

A Florida woman has been convicted of committing COVID-19 relief fraud, swindling nearly $84,515 from the Paycheck Protection Program (PPP). Keyaira Bostic, 32, of Pembroke Pines, was found guilty of three counts of wire fraud and conspiracy to commit bank fraud on November 24th, 2021, after a federal jury deliberated her case.

According to court documents, Bostic obtained the PPP loan for her company, I Am Liquid Inc., by providing false information about the company's employee count and payroll. She also paid $21,000 to an alleged co-conspirator, James Stote, as a kickback for helping her prepare and submit the fraudulent loan application. Stote, who remains a fugitive, is accused of submitting at least 15 other PPP loan applications on behalf of co-conspirators, seeking over $3.3 million in funds and securing nearly $2 million.

Bostic is scheduled to be sentenced on February 3rd, 2022, and faces a maximum penalty of 20 years in prison for each count of conviction. The U.S. Sentencing Guidelines and other statutory factors will be considered by the court in determining her sentence.

The case was investigated by the IRS-Criminal Investigation (IRS-CI), the FBI, and the Small Business Administration's Office of Inspector General (SBA-OIG). Trial Attorney Philip Trout of the Criminal Division's Fraud Section and Assistant U.S. Attorney David Turken of the Southern District of Florida prosecuted the case.

The Fraud Section has led the prosecution of over 150 defendants in more than 95 criminal cases related to PPP fraud, resulting in the seizure of over $75 million in cash and other assets. The COVID-19 Fraud Enforcement Task Force, established by the Attorney General in 2021, has aided in the investigation and prosecution of pandemic-related fraud.

Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the National Center for Disaster Fraud Hotline at 866-720-5721 or via the NCDF Web Complaint Form at https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

Bostic's conviction is a stark reminder of the importance of vigilance in preventing and detecting COVID-19 relief fraud. The public is urged to remain cautious and report any suspicious activity to the authorities.

Source: https://www.justice.gov/archives/opa/pr/florida-woman-convicted-covid-19-relief-fraud